The 15th of September marks the fifth anniversary of the most spectacular bankruptcy in the financial crisis of 2007-2008. On that day, renowned Wall Street investment bank Lehman Brothers filed for bankruptcy due to disastrous investments in US real estate through financial products. At the time,European leaders made bold promises to reform financial regulation in the EU “to respond to crises, but also to avoid them in the future”, Commission President Barroso said. Five years on, the results are woefully insufficient. Mehr
Die deutschen Exporte sind im Mai so kräftig gesunken wie seit 2009 nicht mehr. Auch die Importe sind – gemessen am Vorjahr – rückläufig. Die deutsche “Konjunkturlokomotive” erlahmt, selbst Merkel kriegt die Krise. Doch sie macht weiter in Optimismus, zumindest bis zur Wahl. Ein Gastbeitrag aus San Francisco. Mehr
The German central bank has lowered Germany’s outlook. Instead of the glorious recovery originally expected, there’s a minuscule 0.3% growth expected now. After the Netherlands, Finland and France the crisis has reached Germany. Will chancellor Merkel wake up now? Mehr
France’s President Hollande grants the euro zone two years for establishing a political union. However, before this there will be German federal elections, then European parliamentary elections. There is not much time for the required course adjustment, especially since the cracks are widening. Mehr
Rarely has Europe seen such a sad May 1st. Close to 20% of people unemployed in Euroland, Spain and France hitting new lows. Germany alone has it better, daily ‘FAZ’ sees full employment coming up. But Germany is not in its own little paradise, its employment miracle could turn sour.
Brussels and Washington both put pressure on Berlin. EU commissioner Rehn and US secretary of treasury Lev think Germany should step up to stabilize the Euro. The German government currently ignores the pleas, but it will have to deliver after the elections for the Bundestag in September. Mehr